Q3 2023 UBS Group AG Earnings Press Conference Transcript
Good morning, everyone. Welcome to our third quarter earnings call with the media. We're joined by Sergio Ermotti, our CEO; and Todd Tuckner, our CFO, and we're going to open it up for questions. Good morning. Owen, we'll start with you.
Questions & Answers
Just a quick one on headcount numbers. If you could just provide a bit more clarity on what we have here because I think you've indicated 13,000 job cuts or head reduction so far this year with 4,000 in Q3. Now if you go back to -- on a pro forma basis, I think total headcount would have been about just over 120,000 at the start of the year, down to about 116,000 now. So if you could talk a little bit about where those jobs are coming from? Are a lot of those kind of part-time workers, contractors, what parts of the business they're coming from and what we should be expecting into the new year?
Thanks for the question, Owen. Yes, the
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